Saylor said Facebook will become the digital age’s equivalent of the yellow pages telephone directories, providing an easier way to communicate than email.

“Facebook offers the most efficient way for people to show and communicate information,” Saylor said.

He forecasts smartphone ownership will reach five billion within five years, and “Facebook is destined to map all five billion of those people,” he said.

Facebook shares have fallen from their initial offering price of $38 when the company went public on May 18. They reached an all-time low of $25.52 on July 26 after the company posted second-quarter earnings showing a net loss of $157 million or 8 cents a share.

Facebook Must Focus On Mobile: Expert

"The key for Facebook is mobile, mobile is a big big trend with over half their users using mobile devices and they need to look at ways to maximise profitability of add revenue through mobile devices," Paul Hawtin, CEO and founder at Derwent Capital, told CNBC.

Saylor conceded Facebook had yet to monetize successfully — “or work out how to monetize” — but said China’s move to ban Facebook, along with Google, highlighted how powerfully the company was perceived.

He added that CEO Mark Zuckerberg has achieved greater success than Bill Gates had at a similar age.